Record Revenue and Growth
Total revenue for the full year increased 15.4% year-over-year to approximately $100 million, with fourth quarter revenue increasing 3.5% year-over-year to $25 million. Record gross margin for the full year was 51.1%.
Successful Capital Raise
Closed an $81 million private placement in December, oversubscribed and completed at a substantial premium to market, ending the year with $91.6 million in cash.
Growth in Maryland Market
Maryland market saw a 56% growth, contributing significantly to the overall revenue increase.
Strategic Growth Investments
Secured financial commitments of $26.5 million for the build-out of a new indoor cultivation facility in Minnesota and increased premium flower production in New York.
Merger Transactions
Pending merger transactions expected to close in 2025, positioning the company for a transformational year.